Which term describes the global economic slowdown combined with persistently high inflation experienced in recent years?
A
Deflation
B
Stagflation
C
Hyperinflation
D
Recession only
Correct Answer: Option B — Stagflation
Explanation:
Stagflation refers to an economic condition combining stagnant growth with high inflation, a phenomenon several economies grappled with following pandemic-related disruptions and energy price shocks.